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[Guide] NVIDIA & AMD PTS GPU Mining - Page 612

post #6111 of 6478
Quote:
Originally Posted by beaker7 View Post

Boom

http://arstechnica.com/tech-policy/2014/03/irs-bitcoin-is-property-like-a-stock-or-bond-and-not-a-currency/

Distant sounds of BTC bubble bursting, growing louder.

it sounds as if you have not much clue about what you're talking about. Most of the cryptocurrency community expected this to happen, and in fact it isn't completely bad news in itself. As it's being treated as captial gains, it gets hit with a 20% tax as opposed to income tax which is 36%. Obviously, most people would prefer "No tax at all", but certainly capital gains tax is the lesser of two evils.

If anything, the fact that cryptocurrencies are being treated the same as shares you buy on a (completely legalised and somewhat mainstream) stock exchange only reaffirms the legitimacy of the movement....
post #6112 of 6478
Quote:
Originally Posted by fleetfeather View Post

it sounds as if you have not much clue about what you're talking about. Most of the cryptocurrency community expected this to happen, and in fact it isn't completely bad news in itself. As it's being treated as captial gains, it gets hit with a 20% tax as opposed to income tax which is 36%. Obviously, most people would prefer "No tax at all", but certainly capital gains tax is the lesser of two evils.

If anything, the fact that cryptocurrencies are being treated the same as shares you buy on a (completely legalised and somewhat mainstream) stock exchange only reaffirms the legitimacy of the movement....
I agree. Its a good thing.
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post #6113 of 6478
Quote:
Originally Posted by Caldeio View Post

I agree. Its a good thing.
Quote:
Originally Posted by fleetfeather View Post

it sounds as if you have not much clue about what you're talking about. Most of the cryptocurrency community expected this to happen, and in fact it isn't completely bad news in itself. As it's being treated as captial gains, it gets hit with a 20% tax as opposed to income tax which is 36%. Obviously, most people would prefer "No tax at all", but certainly capital gains tax is the lesser of two evils.

If anything, the fact that cryptocurrencies are being treated the same as shares you buy on a (completely legalised and somewhat mainstream) stock exchange only reaffirms the legitimacy of the movement....

I think it's good also.

But I am still hung up on the part where it says that when you mine bitcoins you must consider it as income at that time. Isn't that an income tax? I am still trying to understand.
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post #6114 of 6478
Is there a PTS miner that can mine on a card with a CC of 1.1?

EDIT: Trying to PTS mine on an 8800 GTS 512MB.
Edited by MR KROGOTH - 3/28/14 at 12:25am
    
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post #6115 of 6478
Quote:
Originally Posted by antonio8 View Post


I think it's good also.

But I am still hung up on the part where it says that when you mine bitcoins you must consider it as income at that time. Isn't that an income tax? I am still trying to understand.

The IRS is requiring American residents to declare crypto's as a form of income, and that income will indeed be taxed, however it is being taxed at a lower rate than mainstream salaries/wages are being taxed at (20% rather than 36%).

Not too sure on the specifics of the American system, but I know that in Australia at least, there is a threshold of income you must reach before even being taxed. Many low income earners (such as myself as a university student) don't get taxed on any money I earn via any means, simply because I don't earn enough of it. tongue.gif
post #6116 of 6478
can i mine pts @ linux amd and nvidia cards together?
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post #6117 of 6478
configured YAcoin but i am getting 1.4 -1.5 khash/s
isn't it low ? I am getting around 230 in PTS

     
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post #6118 of 6478
OK guys... its the IRS... not NSA

I really don't see how they are going to trace those coins you generated back to you. I really don't think they have the resources.

If it makes you feel any better, I think you are much more likely to have the DEA kick in the door thinking your are running a grow-op due to a spike in your energy usage smile.gif
post #6119 of 6478
Quote:
Originally Posted by naved777 View Post

configured YAcoin but i am getting 1.4 -1.5 khash/s
isn't it low ? I am getting around 230 in PTS


Nope, fermi sucks...can't do better than that.
I'd reccomend ccminer v0.5 and mining heavycoin with it.

Guys, do you know if the Maximus Hero can run 6 gpus?
post #6120 of 6478
Quote:
Originally Posted by bbond007 View Post

OK guys... its the IRS... not NSA

I really don't see how they are going to trace those coins you generated back to you. I really don't think they have the resources.

If it makes you feel any better, I think you are much more likely to have the DEA kick in the door thinking your are running a grow-op due to a spike in your energy usage smile.gif

They will look to catch you when you try to convert to usd, which shows how out of touch they are since many people are hoping crypto's will be accepted more broadly in the future (rather than converting to fiat and using fiat for purchases)

Even with that part ignored, I agree it will be a huge resource strain to track down the sources of cash deposits from what will no doubt be a endless supply of companies looking to facilitate cash <-> crypto trading (for a small fee, of course)
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